Election Day is here…in case the deluge of ads, mailers, signs and flyers didn’t clue you in.
Judging from the polls, Americans are having a difficult time choosing the next president. Likewise, whoever the voters elect will have some difficult choices to make.
While both candidates have mentioned the need to address the mounting national debt, details have been sparse on the campaign trail. Once in office, the victor will not have the luxury of being vague and will be confronted with balancing debt reduction with their other priorities. As the Wall Street Journal says this morning, “If the winner of the presidential election wants to tackle America's groaning debt load, he will probably have to break a campaign promise or two.”
The new president will not have much of a honeymoon. CNN Money points out that the fiscal cliff at the end of the year presents “the country's largest, most pressing domestic problem.”
Americans understand the need to fix the debt and want action now, as the video below illustrates.
Whoever it is, the new president will quickly discover that the national debt stands in the way of addressing all the other issues.
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- CRFB Paper, BPC Panels Agree Budget Act Needs a Tune-Up 07/16/2014
- CBO Looks at the Long Term 07/15/2014